Buffalo Small Cap Growth Fund Institutional Class Buffalo Small Cap Growth Fund Institutional Class, C000214594 BUISX Buffalo Growth & Income Fund Investor Class Buffalo Growth & Income Fund C000120435 BUFDX Buffalo Growth Fund Buffalo Growth Fund Series, S000022454 Bank Loan Risk Member Bank Loan Risk Member Mid-Cap Company Risk Member Mid-Cap Company Risk Member Emerging Markets Risk Member Emerging Markets Risk Member Buffalo Flexible Allocation Fund Buffalo Flexible Allocation Fund S000022450 Russell Midcap® Growth Index (reflects no deduction for fees, expenses or taxes) Russell Midcap® Growth Index (reflects no deduction for fees, expenses or taxes) Sector Risk, Health Care Sector Risk Member Sector Risk, Health Care Sector Risk Member Buffalo Mid Cap Growth Fund Institutional Class Buffalo Mid Cap Growth Fund Institutional Class, C000214588 BUIMX Currency Risk Member Currency Risk Member Equity Market Risk, Rights Risk Member Equity Market Risk, Rights Risk Member Buffalo Mid Cap Discovery Fund Investor Class Buffalo Mid Cap Discovery Fund Investor Class, C000017896 BUFTX Buffalo Early Stage Growth Fund Institutional Class Buffalo Early Stage Growth Fund Institutional Class, C000214587 BUIOX Foreign Securities Risk Member Foreign Securities Risk Member Buffalo Mid Cap Growth Fund Buffalo Mid Cap Growth Fund S000006556 Equity Market Risk, Preferred Stocks Risk Member Equity Market Risk, Preferred Stocks Risk Member Growth-Style Investing Risks Member Growth-Style Investing Risks Member Buffalo International Fund Investor Class Buffalo International Fund Investor Class, C000052696 BUFIX Buffalo Early Stage Growth Fund Investor Class Buffalo Early Stage Growth Fund Investor Class, C000017894 BUFOX Micro-Cap Company Risk Member Micro-Cap Company Risk Member Buffalo Small Cap Growth Fund Buffalo Small Cap Growth Fund S000022453 Buffalo International Fund Institutional Class Buffalo International Fund Institutional Class, C000214590 BUIIX Buffalo Blue Chip Growth Fund Institutional Class Buffalo Blue Chip Growth Fund Institutional Class, C000214593 BUIEX Sector Risk Member Sector Risk Member Equity Market Risk, Warrants Risk Member Equity Market Risk, Warrants Risk Member Buffalo Blue Chip Growth Fund Investor Class Buffalo Blue Chip Growth Fund Investor Class, C000064613 BUFEX Buffalo International Fund Buffalo International Fund Series, S000019058 Buffalo Early Stage Growth Fund Buffalo Early Stage Growth Fund Series, S000006555 Dividend Strategy Risk Member Dividend Strategy Risk Member Foreign Securities Risk, American Depositary Receipts Risk Member Foreign Securities Risk, American Depositary Receipts Risk Member Sector Risk, Energy Sector Risk Member Sector Risk, Energy Sector Risk Member Buffalo Growth & Income Fund Institutional Class Buffalo Growth & Income Fund Institutional Class, C000214596 BUIDX Large-Cap Company Risk Member Large-Cap Company Risk Member Russell 2000® Growth Index (reflects no deduction for fees, expenses or taxes) Russell 2000® Growth Index (reflects no deduction for fees, expenses or taxes) Bloomberg Universal Bond Index (reflects no deduction for fees, expenses or taxes) Bloomberg Universal Bond Index (reflects no deduction for fees, expenses or taxes) ICE BofA US High Yield® Index (reflects no deduction for fees, expenses or taxes) ICE BofA US High Yield® Index (reflects no deduction for fees, expenses or taxes) Buffalo Growth & Income Fund Buffalo Growth & Income Fund S000039149 Equity Market Risk, Common Stocks Risk Member Equity Market Risk, Common Stocks Risk Member Debt Securities Risk Member Debt Securities Risk Member Buffalo Small Cap Growth Fund Investor Class Buffalo Small Cap Growth Fund Investor Class, C000064614 BUFSX Buffalo High Yield Fund Institutional Class Buffalo High Yield Fund Institutional Class, C000214592 BUIHX Russell 3000® Growth Index (reflects no deduction for fees, expenses or taxes) Russell 3000® Growth Index (reflects no deduction for fees, expenses or taxes) Russell 3000® Index (reflects no deduction for fees, expenses or taxes) Russell 3000® Index (reflects no deduction for fees, expenses or taxes) Russell 1000® Index (reflects no deduction for fees, expenses or taxes) Russell 1000® Index (reflects no deduction for fees, expenses or taxes) FTSE All-World ex US Index (reflects no deduction for fees, expenses or taxes) FTSE All-World ex US Index (reflects no deduction for fees, expenses or taxes) Buffalo Flexible Allocation Fund Investor Class Buffalo Flexible Allocation Fund C000064611 BUFBX Buffalo Blue Chip Growth Fund Buffalo Blue Chip Growth Fund S000022452 High Yield Risk Member High Yield Risk Member Buffalo Growth Fund Investor Class Buffalo Growth Fund Investor Class, C000064615 BUFGX FTSE Global All Cap ex US Index (reflects no deduction for fees, expenses or taxes) FTSE Global All Cap ex US Index (reflects no deduction for fees, expenses or taxes) Buffalo Growth Fund Institutional Class Buffalo Growth Fund Institutional Class, C000214595 BIIGX Equity Market Risk, Convertible Securities Risk Member Equity Market Risk, Convertible Securities Risk Member Sector Risk, Information Technology Sector Risk Member Sector Risk, Information Technology Sector Risk Member Management Risk Member Management Risk Member Small-Cap Company Risk Member Small-Cap Company Risk Member Buffalo High Yield Fund Investor Class Buffalo High Yield Fund Investor Class, C000064612 BUFHX Russell 1000® Growth Index (reflects no deduction for fees, expenses or taxes) Russell 1000® Growth Index (reflects no deduction for fees, expenses or taxes) Buffalo Mid Cap Discovery Fund Institutional Class Buffalo Mid Cap Discovery Fund Institutional Class, C000214589 BUITX Buffalo High Yield Fund Buffalo High Yield Fund Series, S000022451 Buffalo Mid Cap Growth Fund Investor Class Buffalo Mid Cap Growth Fund Investor Class, C000017895 BUFMX Sector Risk, Industrials Sector Risk Member Sector Risk, Industrials Sector Risk Member Buffalo Flexible Allocation Fund Institutional Class Buffalo Flexible Allocation Fund C000214591 BUIBX Equity Market Risk Member Equity Market Risk Member Buffalo Mid Cap Discovery Fund Buffalo Mid Cap Discovery Fund S000006557 Market Risk; Recent Market Events Risk Member Market Risk; Recent Market Events Risk Member